Useful Advices - Business

Change is the law of life.

― John F. Kennedy

An emergency room (ER) nurse kept hearing complaints from patients who had been waiting for hours to see a doctor. After reading The 2,000 Percent Solution, she began to keep track of how long it took various kinds o

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

f patients to get the attention they needed. She was shocked to find that those who were too sick or injured to explain their problems but who appeared to be okay sometimes waited for more than 10 hours ― even if they needed immediate treatment. This nurse shared

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

her concerns with the other ER nurses and physicians. They discussed possible solutions and decided to train the guards at the door to spot people who couldn't explain about themselves and bring a triage nurse immediately to check the patient. Waiting time for these vu

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

nerable, hard-to-diagnose patients dropped to less than 10 minutes. Although her colleagues didn't know it, they had just put in place a 2,000 percent solution.

A 2,000 percent solution is any method of accomplishing what your organization does now with zero-to-four p

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

rcent of the current time and resources, or accomplishing an increase of 20 times in results while employing the same or fewer resources. A combination of those results can also be a 2,000 percent solution.

That much improvement probably sounds pretty extreme to you.

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

t shouldn't. We've all seen 2,000 percent solutions, but we don't usually label them as such. For example, a slow reader takes a course in better reading methods. Reading speed increases from 100 words to 1,100 words a minute while comprehension of what is read doubles

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

The reading speed increase is a 10-fold improvement, [(1,100 – 100)/100 = 10], and the doubling of comprehension allows twice as much to be comprehended in whatever reading time is involved. When you multiply reading 10 times faster by double the comprehension, you ha

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

e a 2,000 percent solution ― a 2,000 percent increase in reading comprehension per minute from the same time and effort.

What brought 2,000 percent solutions to my attention? I was attracted to this subject of creating 2,000 percent solutions because my family d

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

pended on a small business when I was growing up, and 2,000 percent solutions made an enormous difference in this operation and in my life. I hope this concept will do the same for you, your family, and your business or nonprofit organization, whether you lead it or si

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ply work there.

Let's look at some more examples to help you grasp what a 2,000 percent solution is. Technology often helps us speed results without increasing resources. For example, you can send material halfway around the world now in an e-mail for a tiny fraction

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

f the cost and time of sending an air courier package. E-mail is also a 2,000 percent solution compared to the best method commonly available 20 years ago: sending a facsimile.

Thinking more clearly about the implications of what needs to be done can have a similar ef

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

fect without waiting for technology to advance. For instance, many electronic products are now designed to have many fewer parts than the products they replace. As a result, repairing products with fewer parts takes much less time and reduces costs. For more expensive

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

roducts, the parts are often monitored electronically to note when they are about to fail. The message that equipment failure is imminent is sent to the repair person before the failure. The part is replaced, and the customer never experiences a problem. Repeat sales a

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

d profits improve as a result. For less expensive products, online resources allow customers to diagnose their problems, implement the proper solutions, and receive faster results at much less cost than providing hands-on repairs.

Sharing helpful information throughou

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

organizations has had similar effects. Many organizations now use business intelligence software that allows everyone to know what performance is in the activities each person influences. As a result, fewer problems occur and the solutions come faster and less expensi

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ely.

More recently, organizations have learned to access better ideas inexpensively by involving large numbers of experts through online contests. Goldcorp was a pioneer in this effort when it sponsored the Goldcorp Challenge in March 2000. Many of the world's best ge

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

logists looked at Goldcorp's exploratory drilling results online and produced a number of excellent suggestions. By spending a few hundred thousand dollars for a Web site and prizes, Goldcorp located new gold reserves worth hundreds of millions.

Topping that success,

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

arry Huston, vice president of R&D, Innovation, and Knowledge for Procter & Gamble (P&G), reported in October 2005 that P&G had run more than 200 versions of the Goldcorp Challenge since 2000. These contests had yielded innovations with a success rate of over 80 percen

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

, increased the company's R&D productivity by 45 percent, and provided 35 percent of all of P&G's successful innovations in recent years.

From these examples, you can see that breakthroughs are possible for providing 2,000 percent solutions to the most important organ

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

zational tasks. By considering these examples, I hope you'll be able to see possible variations on their themes to establish 2,000 percent solutions for important tasks where no one yet dreams of such improvements.

Copyright 2007 Donald W. Mitchell, All Rights Reserve

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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You may not realize this but your thoughts and thought processes have an impact on how you run your business and its inherent success. The way you think has an effect on your business and thinking positively or negatively may make or break you.

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